SK Group Chairman Chey Tae-won met with To Lam, General Secretary of the Communist Party of Vietnam, in Washington D.C. to explore enhanced collaboration in the energy and industrial sectors.
The meeting, hosted by consulting firm The Asia Group (TAG), occurred on February 20th, as detailed in a LinkedIn post by TAG on Thursday. SK Innovation CEO Choo Hyeong-wook and TAG Chairman Kurt Campbell were also in attendance.
Chairman Chey was in Washington to participate in the Trans-Pacific Dialogue hosted by the Chey Institute for Advanced Studies. Sources indicate TAG facilitated the meeting with General Secretary Lam, who was in the U.S. for the launch of the Gaza Peace Committee.
During their discussion, General Secretary Lam reiterated his commitment to fostering deeper bilateral cooperation and welcomed continued foreign investment in strategically important sectors, according to TAG.
This meeting marks the first interaction between Chairman Chey and General Secretary Lam since SK Innovation’s selection as the final developer for a major LNG power project in Vietnam’s Nghe An Province.
Earlier this month, SK Innovation announced its successful bid for the $2.3 billion project. The initiative involves constructing a 1,500-megawatt gas-fired power plant, alongside an LNG terminal and dedicated port, through a consortium with PV Power, a subsidiary of state-run PetroVietnam, and Vietnam-based NASU.
SK Group is strategically focused on strengthening its relationship with Vietnam, recognizing the country as a key partner in its efforts to enhance energy security.
Industry analysts suggest that SK’s investment in LNG and power infrastructure in Vietnam could also bolster longer-term energy diversification strategies, potentially aligning with South Korea’s increasing electricity demand.
This is particularly relevant as SK hynix expands its semiconductor manufacturing capacity in Yongin, where the demand for power from chip plants and data centers continues its upward trajectory.
